Milwaukee area business and civic leaders joined with a public audience Monday to discuss if, and how, the arena for the Milwaukee Bucks should be replaced.

The discussion at Marquette University Monday centered around the topic of what tangible benefits would be gained by building a new arena in Milwaukee, and how such a project should be funded.

At 25 years old, the BMO Bradley Center is one of the oldest arenas in use in the NBA. A gift from the Petit Foundation, some in the community have voiced concerns that without a new venue, the Milwaukee Bucks could move to another city.

The chair of the Bradley Center board said full, private funding for a new arena is unlikely.

"It would be great if somebody else stepped up like Jane Bradley did and contributed an enormous amount of money," said Marc Marotta. "I don't think it is going to happen."

Sports economist Andrew Zimbalist said, on average, financing for new professional sports facilities has been about 65 percent public and 35 percent private.

Opponents of public funding said taxpayer money should go toward more pressing needs than a professional sport venue.

"I think we'd lose a big opportunity if all we said is 'What's the cheapest, easiest, least-expensive way?" said Cory Nettles of Generation Growth Capital. "We ought to be thinking about the broader opportunity."

Metropolitan Milwaukee Association of Commerce President Tim Sheehy said he hoped a task force could emerge from Monday's discussion in order to help guide leaders toward the best decision for the city

"This is a very transparent, public discussion," Sheehy said. "It think it's necessary and a great place to start."

Sheehy said he hopes a task force will come together, possibly, by mid-summer.